UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 1998
NORWEST INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 333-17801-01 PENDING
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, MD (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (301) 696-7900
Former name or former address, if changed since last report)
ITEM 5. Other Events
On June 25, 1998 a distribution was made to holders of NORWEST INTEGRATED
STRUCTURED ASSETS, INC., Mortgage Pass-Through Certificates, Series 1998-1
Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 1998-1 Trust,
relating to the June 25, 1998 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORWEST INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice president
By: Sherri J. Sharps, Vice president
Date: 7/6/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-1 Trust, relating to the June 25,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 5/29/1998
Distribution Date: 6/25/1998
NISTAR Series: 1998-1
Contact: Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 846-8130
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
I-A-1 66938DAA7 SEQ 6.75000% 29,848,000.00 167,895.00 202,503.94
I-A-PO NIS981PO1 PO 0.00000% 26,177.75 0.00 108.11
II-A-1 66938DAB5 SEQ 7.00000% 67,500,000.00 393,750.00 1,250,713.78
II-A-2 66938DAC3 SEQ 7.00000% 4,000,000.00 23,333.33 0.00
II-A-3 66938DAD1 SEQ 7.00000% 4,769,000.00 27,819.17 0.00
II-A-4 66938DAE9 SEQ 7.00000% 28,881,517.00 168,475.52 0.00
II-A-5 66938DAF6 SEQ 7.00000% 20,800,386.00 121,335.58 243,015.19
II-A-6 66938DAG4 SEQ 0.00000% 6,892,997.00 0.00 74,658.39
II-A-7 66938DAH2 SEQ 7.00000% 31,985,534.00 186,582.28 0.00
II-A-8 66938DAJ8 SEQ 7.00000% 28,174,466.00 164,351.05 522,047.30
II-A-PO NIS981PO2 PO 0.00000% 3,454.49 0.00 2.92
II-A-R 66938DAK5 R 6.75000% 100.00 0.56 100.00
B-1 66938DAL3 SUB 6.75000% 4,743,000.00 26,679.37 4,970.76
B-2 66938DAM1 SUB 6.75000% 5,453,000.00 30,673.12 5,714.86
B-3 66938DAN9 SUB 6.75000% 1,659,000.00 9,331.88 1,738.67
B-4 66938DAP4 SUB 6.75000% 949,000.00 5,338.12 994.57
B-5 66938DAQ2 SUB 6.75000% 474,000.00 2,666.25 496.76
B-6 66938DAR0 SUB 6.75000% 949,798.80 5,342.62 306.61
Totals 237,109,431.04 1,333,573.85 2,307,371.86
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
I-A-1 0.00 29,645,496.06 370,398.94 0.00
I-A-PO 0.00 26,069.64 108.11 0.00
II-A-1 0.00 66,249,286.22 1,644,463.78 0.00
II-A-2 0.00 4,000,000.00 23,333.33 0.00
II-A-3 0.00 4,769,000.00 27,819.17 0.00
II-A-4 0.00 28,881,517.00 168,475.52 0.00
II-A-5 0.00 20,557,370.81 364,350.77 0.00
II-A-6 0.00 6,818,338.61 74,658.39 0.00
II-A-7 0.00 31,985,534.00 186,582.28 0.00
II-A-8 0.00 27,652,418.70 686,398.35 0.00
II-A-PO 0.00 3,451.57 2.92 0.00
II-A-R 0.00 0.00 100.56 0.00
B-1 0.00 4,738,029.24 31,650.13 0.00
B-2 0.00 5,447,285.14 36,387.98 0.00
B-3 0.00 1,657,261.33 11,070.55 0.00
B-4 0.00 948,005.43 6,332.69 0.00
B-5 0.00 473,503.24 3,163.01 0.00
B-6 688.79 948,803.39 5,649.23 688.79
Totals 688.79 234,801,370.38 3,640,945.71 688.79
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
I-A-1 29,848,000.00 29,848,000.00 97,437.20 105,066.74 0.00 0.00
I-A-PO 26,177.75 26,177.75 88.00 20.11 0.00 0.00
II-A-1 67,500,000.00 67,500,000.00 81,388.19 1,169,325.60 0.00 0.00
II-A-2 4,000,000.00 4,000,000.00 0.00 0.00 0.00 0.00
II-A-3 4,769,000.00 4,769,000.00 0.00 0.00 0.00 0.00
II-A-4 28,881,517.00 28,881,517.00 0.00 0.00 0.00 0.00
II-A-5 20,800,386.00 20,800,386.00 15,813.82 227,201.37 0.00 0.00
II-A-6 6,892,997.00 6,892,997.00 4,858.27 69,800.11 0.00 0.00
II-A-7 31,985,534.00 31,985,534.00 0.00 0.00 0.00 0.00
II-A-8 28,174,466.00 28,174,466.00 33,971.39 488,075.91 0.00 0.00
II-A-PO 3,454.49 3,454.49 2.92 0.00 0.00 0.00
II-A-R 100.00 100.00 6.51 93.49 0.00 0.00
B-1 4,743,000.00 4,743,000.00 4,970.76 0.00 0.00 0.00
B-2 5,453,000.00 5,453,000.00 5,714.86 0.00 0.00 0.00
B-3 1,659,000.00 1,659,000.00 1,738.67 0.00 0.00 0.00
B-4 949,000.00 949,000.00 994.57 0.00 0.00 0.00
B-5 474,000.00 474,000.00 496.76 0.00 0.00 0.00
B-6 949,798.80 949,798.80 306.61 0.00 0.00 688.79
Totals 237,109,431.04 237,109,431.04 247,788.53 2,059,583.33 0.00 688.79
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
I-A-1 202,503.94 29,645,496.06 0.99321549 202,503.94
I-A-PO 108.11 26,069.64 0.99587016 108.11
II-A-1 1,250,713.78 66,249,286.22 0.98147091 1,250,713.78
II-A-2 0.00 4,000,000.00 1.00000000 0.00
II-A-3 0.00 4,769,000.00 1.00000000 0.00
II-A-4 0.00 28,881,517.00 1.00000000 0.00
II-A-5 243,015.19 20,557,370.81 0.98831679 243,015.19
II-A-6 74,658.39 6,818,338.61 0.98916895 74,658.39
II-A-7 0.00 31,985,534.00 1.00000000 0.00
II-A-8 522,047.30 27,652,418.70 0.98147091 522,047.30
II-A-PO 2.92 3,451.57 0.99915472 2.92
II-A-R 100.00 0.00 0.00000000 100.00
B-1 4,970.76 4,738,029.24 0.99895198 4,970.76
B-2 5,714.86 5,447,285.14 0.99895198 5,714.86
B-3 1,738.67 1,657,261.33 0.99895198 1,738.67
B-4 994.57 948,005.43 0.99895198 994.57
B-5 496.76 473,503.24 0.99895198 496.76
B-6 995.40 948,803.39 0.99895198 306.61
Totals 2,308,060.65 234,801,370.38 0.99026584 2,307,371.86
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
I-A-1 29,848,000.00 1000.00000000 3.26444653 3.52005964 0.00000000
I-A-PO 26,177.75 1000.00000000 3.36163345 0.76820964 0.00000000
II-A-1 67,500,000.00 1000.00000000 1.20575096 17.32334222 0.00000000
II-A-2 4,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-3 4,769,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-4 28,881,517.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-5 20,800,386.00 1000.00000000 0.76026570 10.92294008 0.00000000
II-A-6 6,892,997.00 1000.00000000 0.70481243 10.12623537 0.00000000
II-A-7 31,985,534.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-8 28,174,466.00 1000.00000000 1.20575098 17.32334199 0.00000000
II-A-PO 3,454.49 1000.00000000 0.84527673 0.00000000 0.00000000
II-A-R 100.00 1000.00000000 65.10000000 934.90000000 0.00000000
B-1 4,743,000.00 1000.00000000 1.04802024 0.00000000 0.00000000
B-2 5,453,000.00 1000.00000000 1.04802127 0.00000000 0.00000000
B-3 1,659,000.00 1000.00000000 1.04802291 0.00000000 0.00000000
B-4 949,000.00 1000.00000000 1.04801897 0.00000000 0.00000000
B-5 474,000.00 1000.00000000 1.04801688 0.00000000 0.00000000
B-6 949,798.80 1000.00000000 0.32281574 0.00000000 0.00000000
<FN>
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
I-A-1 0.00000000 6.78450616 993.21549384 0.99321549 6.78450616
I-A-PO 0.00000000 4.12984309 995.87015691 0.99587016 4.12984309
II-A-1 0.00000000 18.52909304 981.47090696 0.98147091 18.52909304
II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-5 0.00000000 11.68320578 988.31679422 0.98831679 11.68320578
II-A-6 0.00000000 10.83104925 989.16895075 0.98916895 10.83104925
II-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-8 0.00000000 18.52909297 981.47090703 0.98147091 18.52909297
II-A-PO 0.00000000 0.84527673 999.15472327 0.99915472 0.84527673
II-A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
B-1 0.00000000 1.04802024 998.95197976 0.99895198 1.04802024
B-2 0.00000000 1.04802127 998.95197873 0.99895198 1.04802127
B-3 0.00000000 1.04802291 998.95197709 0.99895198 1.04802291
B-4 0.00000000 1.04801897 998.95198103 0.99895198 1.04801897
B-5 0.00000000 1.04801688 998.95198312 0.99895198 1.04801688
B-6 0.72519569 1.04801143 998.95197804 0.99895198 0.32281574
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
I-A-1 29,848,000.00 6.75000% 29,848,000.00 167,895.00 0.00 0.00
I-A-PO 26,177.75 0.00000% 26,177.75 0.00 0.00 0.00
II-A-1 67,500,000.00 7.00000% 67,500,000.00 393,750.00 0.00 0.00
II-A-2 4,000,000.00 7.00000% 4,000,000.00 23,333.33 0.00 0.00
II-A-3 4,769,000.00 7.00000% 4,769,000.00 27,819.17 0.00 0.00
II-A-4 28,881,517.00 7.00000% 28,881,517.00 168,475.52 0.00 0.00
II-A-5 20,800,386.00 7.00000% 20,800,386.00 121,335.58 0.00 0.00
II-A-6 6,892,997.00 0.00000% 6,892,997.00 0.00 0.00 0.00
II-A-7 31,985,534.00 7.00000% 31,985,534.00 186,582.28 0.00 0.00
II-A-8 28,174,466.00 7.00000% 28,174,466.00 164,351.05 0.00 0.00
II-A-PO 3,454.49 0.00000% 3,454.49 0.00 0.00 0.00
II-A-R 100.00 6.75000% 100.00 0.56 0.00 0.00
B-1 4,743,000.00 6.75000% 4,743,000.00 26,679.38 0.00 0.00
B-2 5,453,000.00 6.75000% 5,453,000.00 30,673.12 0.00 0.00
B-3 1,659,000.00 6.75000% 1,659,000.00 9,331.88 0.00 0.00
B-4 949,000.00 6.75000% 949,000.00 5,338.12 0.00 0.00
B-5 474,000.00 6.75000% 474,000.00 2,666.25 0.00 0.00
B-6 949,798.80 6.75000% 949,798.80 5,342.62 0.00 0.00
Totals 237,109,431.04 1,333,573.86 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
I-A-1 0.00 0.00 167,895.00 0.00 29,645,496.06
I-A-PO 0.00 0.00 0.00 0.00 26,069.64
II-A-1 0.00 0.00 393,750.00 0.00 66,249,286.22
II-A-2 0.00 0.00 23,333.33 0.00 4,000,000.00
II-A-3 0.00 0.00 27,819.17 0.00 4,769,000.00
II-A-4 0.00 0.00 168,475.52 0.00 28,881,517.00
II-A-5 0.00 0.00 121,335.58 0.00 20,557,370.81
II-A-6 0.00 0.00 0.00 0.00 6,818,338.61
II-A-7 0.00 0.00 186,582.28 0.00 31,985,534.00
II-A-8 0.00 0.00 164,351.05 0.00 27,652,418.70
II-A-PO 0.00 0.00 0.00 0.00 3,451.57
II-A-R 0.00 0.00 0.56 0.00 0.00
B-1 0.00 0.00 26,679.37 0.00 4,738,029.24
B-2 0.00 0.00 30,673.12 0.00 5,447,285.14
B-3 0.00 0.00 9,331.88 0.00 1,657,261.33
B-4 0.00 0.00 5,338.12 0.00 948,005.43
B-5 0.00 0.00 2,666.25 0.00 473,503.24
B-6 0.00 0.00 5,342.62 0.00 948,803.39
Totals 0.00 0.00 1,333,573.85 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
I-A-1 29,848,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
I-A-PO 26,177.75 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-1 67,500,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
II-A-2 4,000,000.00 7.00000% 1000.00000000 5.83333250 0.00000000 0.00000000
II-A-3 4,769,000.00 7.00000% 1000.00000000 5.83333403 0.00000000 0.00000000
II-A-4 28,881,517.00 7.00000% 1000.00000000 5.83333348 0.00000000 0.00000000
II-A-5 20,800,386.00 7.00000% 1000.00000000 5.83333309 0.00000000 0.00000000
II-A-6 6,892,997.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-7 31,985,534.00 7.00000% 1000.00000000 5.83333328 0.00000000 0.00000000
II-A-8 28,174,466.00 7.00000% 1000.00000000 5.83333327 0.00000000 0.00000000
II-A-PO 3,454.49 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-R 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
B-1 4,743,000.00 6.75000% 1000.00000000 5.62500105 0.00000000 0.00000000
B-2 5,453,000.00 6.75000% 1000.00000000 5.62499908 0.00000000 0.00000000
B-3 1,659,000.00 6.75000% 1000.00000000 5.62500301 0.00000000 0.00000000
B-4 949,000.00 6.75000% 1000.00000000 5.62499473 0.00000000 0.00000000
B-5 474,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-6 949,798.80 6.75000% 1000.00000000 5.62500184 0.00000000 0.00000000
<FN>
(5) Per $1 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
I-A-1 0.00000000 0.00000000 5.62500000 0.00000000 993.21549384
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 995.87015691
II-A-1 0.00000000 0.00000000 5.83333333 0.00000000 981.47090696
II-A-2 0.00000000 0.00000000 5.83333250 0.00000000 1000.00000000
II-A-3 0.00000000 0.00000000 5.83333403 0.00000000 1000.00000000
II-A-4 0.00000000 0.00000000 5.83333348 0.00000000 1000.00000000
II-A-5 0.00000000 0.00000000 5.83333309 0.00000000 988.31679422
II-A-6 0.00000000 0.00000000 0.00000000 0.00000000 989.16895075
II-A-7 0.00000000 0.00000000 5.83333328 0.00000000 1000.00000000
II-A-8 0.00000000 0.00000000 5.83333327 0.00000000 981.47090703
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 999.15472327
II-A-R 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.62499895 0.00000000 998.95197976
B-2 0.00000000 0.00000000 5.62499908 0.00000000 998.95197873
B-3 0.00000000 0.00000000 5.62500301 0.00000000 998.95197709
B-4 0.00000000 0.00000000 5.62499473 0.00000000 998.95198103
B-5 0.00000000 0.00000000 5.62500000 0.00000000 998.95198312
B-6 0.00000000 0.00000000 5.62500184 0.00000000 998.95197804
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notational Notational Component Component Component
Class Rate Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C>
II-A-6 COMP 0.00000% 0.00 0.00 1,069,686.00 1,069,686.00 100.00000000%
II-A-6 COMP 0.00000% 0.00 0.00 5,823,311.00 5,748,652.61 98.71793916%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 3,751,784.89
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 3,751,784.89
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 51,686.69
Payment of Interest and Principal 3,640,945.73
Total Withdrawals (Pool Distribution Amount) 3,692,632.42
Ending Balance 59,152.45
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,084.54
Servicing Fee Support 1,084.54
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 49,413.15
Master Servicing Fee 3,358.10
Supported Prepayment/Curtailment Interest Shortfall 1,084.54
Net Servicing Fee 51,686.70
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 5 1,168,026.89 0.286862% 0.497453%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 5 1,168,026.89 0.286862% 0.497453%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 688.79
Cumulative Realized Losses - Includes Interest Shortfall 688.79
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 269,217.71
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 14,227,798.80 6.00051999% 14,212,887.77 6.05315367% 93.946085% 0.000000%
Class B-1 9,484,798.80 4.00017779% 9,474,858.53 4.03526543% 2.018142% 33.336148%
Class B-2 4,031,798.80 1.70039580% 4,027,573.39 1.71531085% 2.320246% 38.326378%
Class B-3 2,372,798.80 1.00071886% 2,370,312.06 1.00949669% 0.705903% 11.660272%
Class B-4 1,423,798.80 0.60048172% 1,422,306.63 0.60574886% 0.403799% 6.670041%
Class B-5 949,798.80 0.40057403% 948,803.39 0.40408767% 0.201687% 3.331506%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.404138% 6.675655%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 54,852.41 0.02313380% 54,852.41 0.02336120%
Fraud 4,742,188.62 2.00000000% 4,742,188.62 2.01965969%
Special Hazard 2,371,094.31 1.00000000% 2,371,094.31 1.00982984%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 15 & 30 Year
Weighted Average Gross Coupon 8.029645%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 329
Begin Scheduled Collateral Loan Count 1,752
Number Of Loans Paid In Full 9
End Scheduled Collateral Loan Count 1,743
Begining Scheduled Collateral Balance 237,109,431.04
Ending Scheduled Collateral Balance 234,801,370.38
Ending Actual Collateral Balance at 29-May-1998 256,255,048.60
Ending Scheduled Balance For Norwest 232,333,407.08
Ending Scheduled Balance For Other Services 2,467,963.30
Monthly P &I Constant 1,635,879.71
Class A Optimal Amount 3,546,581.09
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 232,813,458.42
Ending scheduled Balance For discounted Loans 1,987,911.96
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 198,180,644.21
Greater Than 80%, less than or equal to 85% 2,620,580.06
Greater than 85%, less than or equal to 95% 34,027,221.87
Greater than 95% 0.00
</TABLE>
